The real estate market has passed the most difficult period.

(CLO) Deputy Minister of Construction Nguyen Viet Hung said that, up to now, the real estate market has seen positive changes, overcoming the most difficult period.

At the regular quarterly press conference held on the afternoon of December 27th, Mr. Ngo Lam, Chief of the Office of the Ministry of Construction, stated that the real estate market has shown signs of positive change.

For example, the supply of real estate, after a period of limited supply, has improved; the volume of transactions for apartments, detached houses, and land plots tends to increase. However, localized price fluctuations still occur in some segments and areas.

The real estate market has overcome its most difficult phase. (Photo: ST)

In response to the sharp increase in real estate and commercial housing prices in some major cities, the Ministry of Construction has submitted a report to the Prime Minister , assessing the current situation, analyzing the causes, and proposing solutions.

"The Ministry of Construction has also issued numerous documents urging and reminding localities to take timely action," said Mr. Ngo Lam.

Commenting further on the real estate market, Mr. Nguyen Viet Hung, Deputy Minister of Construction, said: "In the past period, the Government , the Prime Minister, the Ministry of Construction, and other ministries, sectors, and localities have issued many decisive directives and implemented many synchronized solutions to overcome difficulties in the real estate market."

Specifically, the Prime Minister's Task Force on resolving difficulties and obstacles in the implementation of real estate projects has worked successively with localities and real estate businesses to hear reports, gather information, and review each specific real estate project in order to exchange information, provide guidance, and resolve difficulties and obstacles in the implementation of real estate projects.

"Along with perfecting the legal and institutional system, decisive solutions from the central to local levels, and the efforts of businesses and investors, the real estate market has seen positive changes, overcoming the most difficult period," Deputy Minister Nguyen Viet Hung said.

According to the Deputy Minister, the social housing policy over the past year has received special attention and guidance from the Party, the National Assembly, and the Government. Investing in the development of social housing for workers and low-income earners has been identified as one of the important and humane criteria and policies aimed at ensuring social security and driving stable socio-economic development of the country.

In fact, from 2021 to the present, 644 social housing projects have been implemented nationwide, comprising 580,109 units. Of these, 96 projects with 57,652 units have been completed.

Overview of the press conference (Photo: Viet Vu)

Number of projects that have commenced construction: 133 projects with a scale of 110,217 units; number of projects that have received investment approval: 415 projects with a scale of 412,240 units.

Regarding the 120,000 billion VND support fund under Resolution No. 33, to date, 36 out of 63 provincial People's Committees have issued documents and announced projects eligible for preferential loans on their electronic information portals (16 projects have already received loans with a total committed credit amount of 4,200 billion VND and outstanding debt of 1,727 billion VND).

In 2024, the Ministry of Construction, in coordination with the Government Office, organized two conferences to address difficulties and promote the development of social housing. The Ministry is currently submitting to the Government a draft Resolution on preferential capital sources for social housing development.

"Accordingly, we propose implementing a preferential loan package of 100,000 billion VND for social housing from bond capital, applicable for 5 years. These efforts will be the foundation for accelerating the development of social housing nationwide in the coming time," Deputy Minister Nguyen Viet Hung emphasized.

Source: https://www.congluan.vn/bo-xay-dung-thi-truong-bat-dong-san-da-vuot-qua-giai-doan-kho-khan-nhat-post327821.html